22 Jan, 2020, 15:45 ET
DUBLIN, Jan. 22, 2020 /PRNewswire/ -- The "Global Neurostimulation Device Market 2019-2027" report has been added to ResearchAndMarkets.com's offering.
As per the analysis, the global neurostimulation device market is expected to show compelling growth in terms of revenue with a CAGR of 10.23% during the forecasting period 2019-2027.
The rapid growth in the geriatric population, growing demand for MRI scans, rising incidence of neuro diseases, and favorable reimbursement policies are driving the neurostimulation device market. However, factors such as high cost of neuromodulation treatment and the presence of alternative treatment options are obstructing the market growth.
Moreover, stringent regulatory approvals and side-effects associated with neurostimulation devices are some of the challenges faced by the market. The market can achieve its predicted growth by leveraging key opportunities such as the high market potential for SCS devices in neurostimulation, technological development, and growing incidence of chronic discomfort.
The global neurostimulation device market report covers the regions of North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa.
The Asia-Pacific is the fastest-growing region in the global neurostimulation device market. The market in this region is primarily fueled by the enhancements in healthcare infrastructure, the high pervasiveness of lifestyle diseases such as atherosclerosis, stroke & heart diseases leading to increased surgeries, and the growing confidence of physicians in the use of neurostimulation devices.
In countries like India and China, there is a huge preference given for traditional treatment methods like yoga, physiotherapy, and ayurvedic means. Along with that, a shortage of skilled professionals, a lack of public awareness about neurostimulation devices, and the high cost of devices are expected to restrain the market growth.
Some outstanding competitors in the neurostimulation device market are Cogentix Medical, Inc., Boston Scientific Corporation, Neuronetics, Inc., DePuy Synthes Companies, Cyberonics, Inc., Nevro Corp., Dr. Langer Medical GmbH, Ectron Limited, St. Jude Medical, Inc. (acquired by Abbott Laboratories), Ekso Bionics Holding Inc., Aleva Neurotherapeutics SA, Medtronic plc, Hocoma AG, Helius Medical Technologies, and The Magstim Company Limited.
Key Topics Covered
1. Global Neurostimulation Device Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Porter's Five Forces Model
2.3. Value Chain Outlook
2.4. Market Trends
2.5. Market Share Outlook
2.6. PESTLE Outlook
2.7. Market Attractiveness Index
2.8. Key Insight
2.9. Market Drivers
2.9.1. Rising Incidence of Neuro Diseases
2.9.2. Increasing Geriatric Population
2.9.3. Growing Demand for MRI Scans
2.9.4. Favorable Reimbursement Policies
2.10. Market Restraints
2.10.1. High Cost of Neuromodulation Treatment
2.10.2. Presence of Alternative Therapy
2.11. Market Opportunities
2.11.1. High Market Potential for SCS Devices in Neurostimulation
2.11.2. Technological Development
2.11.3. Growing Incidence of Chronic Discomfort
2.12. Market Challenges
2.12.1. Stringent Regulatory Approvals
2.12.2. Side-Effects Associated with Neurostimulation Devices
3. Neurostimulation Device Market Outlook - By System
3.1. Spinal Cord Stimulators (SCS)
3.2. Deep Brain Stimulators (DBS)
3.3. Sacral Nerve Stimulators (SND)
3.4. Vagus Nerve Stimulators (VNS)
3.5. Gastric Electric Stimulator
3.6. Other Systems
4. Neurostimulation Device Market Outlook - By Applications
4.1. Pain Management
4.3. Essential Tremor
4.4. Urinary & Fecal Incontinence
4.8. Parkinson's Disease
4.9. Other Applications
5. Neurostimulation Device Market - Regional Outlook
5.1. North America
5.4. Latin America
5.5. Middle East & Africa
6. Company Profiles
6.1. Neuronetics Inc.
6.2. St. Jude Medical Inc. (Acquired by Abbott Laboratories)
6.3. Hocoma AG
6.4. Nevro Corp.
6.5. Cyberonics Inc.
6.6. Cogentix Medical Inc.
6.7. Depuy Synthes Companies
6.8. Dr. Langer Medical GmbH
6.9. Medtronic plc
6.10. The Magstim Company Limited
6.11. Ectron Limited
6.12. Boston Scientific Corporation
6.13. Ekso Bionics Holdings Inc.
6.14. Aleva Neurotherapeutics S.A.
6.15. Helius Medical Technologies
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